Bally Says Pardus and Liberation ''Miss the Point'' in Latest Communications; Asks Shareholders to Vote Based on Business Turnaround and Sound Strategic Process To Create Value.

CHICAGO -- Bally Total Fitness (NYSE:BFT), the nation's leader in health and fitness, said today that its two dissident hedge funds, Pardus and Liberation, are once again missing the key points in their communications released today.

"In all of their communications urging shareholders to support their views, Pardus and Liberation have consistently ignored the fundamental issues that remain central to most shareholders -- how is the Company doing in turning around the business to create more and lasting shareholder value, and what are Bally's independent Board and management doing to address the sizeable debt that the Company was saddled with since going public in 1996," said Paul Toback, Chairman and CEO.

Mr. Toback added, "The fact is that Bally continues to execute well on its operational turnaround on all levels, including a revamped business model and new marketing initiatives, which are collectively driving revenue growth, improved efficiencies and growth in new members. Pardus itself has acknowledged Bally's strong financial performance, stating in their December 8, 2005 SEC filing, 'last week the Company (Bally) reported financial and operating results that were even better than "street" expectations.'

"Furthermore, an independent special committee of directors is moving forward expeditiously in evaluating strategic alternatives with two leading independent financial advisors to best enhance long-term value for shareholders. These are the issues that matter for investors. By now it should have become abundantly clear that Pardus and Liberation have no constructive plans of their own to improve Bally's business or build long-term value for all Bally shareholders."

Bally continues to encourage shareholders to support the Board of Directors' slate, which includes two candidates nominated by Pardus, along with Eric Langshur, the head of Bally's Audit committee, by dating and returning the WHITE proxy card. Shareholders with questions or in need of assistance in voting their shares should contact Bally's proxy solicitor, MacKenzie Partners, toll-free at 800-322-2885 or collect at 212-929-5500.

About Bally Total Fitness

Bally Total Fitness is the largest and only nationwide commercial operator of fitness centers in the U.S., with nearly 440 facilities located in 29 states, Mexico, Canada, Korea, China and the Caribbean under the Bally Total Fitness(R), Crunch Fitness(SM), Gorilla Sports(SM), Pinnacle Fitness(R), Bally Sports Clubs(R) and Sports Clubs of Canada (R) brands. Bally offers a unique platform for distribution of a wide range of products and services targeted to active, fitness-conscious adult consumers.

Forward-looking statements in this release including, without limitation, statements relating to the Company's plans, strategies, objectives, expectations, intentions, and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.